Key Points:
- Kenyan financial services group launches trustee services, offering clients REITs and diverse investment options.
- Targeting growth in Kenya’s REIT market, NCBA aims to attract investors seeking secure and professionally managed real estate holdings.
- NCBA strengthens its grip on the region’s financial sector, offering comprehensive solutions and catering to diverse client needs.
NCBA Group, a leading financial services conglomerate controlled by some of Kenya’s wealthiest families, has launched trustee services, significantly expanding its investment offerings and solidifying its position as a comprehensive provider in East Africa.
NCBA Bank, a subsidiary of NCBA Group, secured a license from the Capital Markets Authority in March 2024 to offer Real Estate Investment Trusts (REITs). This move allows NCBA to enter the trustee services market, providing clients with more investment options and reinforcing its commitment to comprehensive financial services.
NCBA’s Trustee Services Solutions include various investment vehicles such as REITs, Development REITs (D-REITs), Investment REITs (I-REITs), and Unit Trust Funds (Money Market, Bond, Equity, and Special). This diversification aims to meet diverse client needs, offering secure and efficient asset management.
Targeting collective investment schemes
By entering Kenya’s REIT market, which currently comprises four players – ILAM Fahari Income REIT, Acorn Development REIT, Acorn Income REIT, and Lapfund Imara Income REIT – NCBA positions itself as a significant player in the growing sector. This offers new opportunities for investors seeking to diversify their portfolios with real estate.
John Gachora, NCBA Group’s Managing Director, emphasizes the group’s dedication to tailored financial solutions that prioritize client investment security and effective management. He said: “At NCBA, we are dedicated to providing comprehensive trustee services tailored to collective investment schemes which ensure secure and efficient management of assets.”
“Our Trustee Services Solutions are designed to offer secure and effective management of collective investment schemes, reflecting our dedication to safeguarding investments and fostering sustainable growth,” he added.
NCBA Group: East African financial powerhouse
Headquartered in Nairobi, Kenya, NCBA Group is a non-operating holding company with subsidiaries in Tanzania, Rwanda, Uganda, and Côte d’Ivoire. Formed in 2019 through the merger of NIC Bank Group and Commercial Bank of Africa Group, NCBA has solidified its position as a major player in East Africa’s financial sector.
Partially owned by prominent Kenyan families like Kenyatta, Merali, and Ndegwa, the leading financial services conglomerate remains committed to strengthening its Kenyan operations while expanding its regional footprint. By expanding its investment offerings, NCBA aims to cater to evolving client needs and solidify its position as a leading East African financial services provider, navigating a competitive market to deliver value to its clients.
